The Quebec EV maker reported a nearly 245 per cent jump in third-quarter revenue and said it delivered 156 vehicles, up from 40 in the same period last year. (The Logic)

Talking point: The company’s New York-listed stock closed up more than 13 per cent on the report. Lion said it will spend US$65 million this year on its Illinois plant, which just completed its first electric school bus, down from previous estimates of US$80 million. The company also said it is pursuing further deals with school districts that received U.S. government rebates for electric school buses. Meanwhile, it plans to transition away from buying batteries from BMW by the end of the year as its own plant starts up. It’s also arbitrating its battery contract with Romeo Power, recently acquired by rival Nikola, as it prepares to launch tractors in the first half of next year. Executives said in an earnings call its truck deliveries—to companies including DHL and The New York Times—more than tripled.